Cambria Investment Management L.P. acquired a new position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,845 shares of the financial services provider’s stock, valued at approximately $1,184,000.

A number of other large investors also recently made changes to their positions in PNC. Ropes Wealth Advisors LLC increased its position in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Ropes Wealth Advisors LLC now owns 1,849 shares of the financial services provider’s stock worth $222,000 after buying an additional 8 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,876 shares of the financial services provider’s stock worth $226,000 after buying an additional 8 shares in the last quarter. Pinnacle Advisory Group Inc. increased its position in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Pinnacle Advisory Group Inc. now owns 2,773 shares of the financial services provider’s stock worth $333,000 after buying an additional 12 shares in the last quarter. VNBTrust National Association increased its position in PNC Financial Services Group, Inc. (The) by 0.6% in the first quarter. VNBTrust National Association now owns 2,486 shares of the financial services provider’s stock worth $299,000 after buying an additional 15 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its position in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,018 shares of the financial services provider’s stock worth $724,000 after buying an additional 22 shares in the last quarter. 81.64% of the stock is owned by institutional investors and hedge funds.

PNC Financial Services Group, Inc. (PNC) traded up 1.26% during trading on Friday, reaching $132.16. The company’s stock had a trading volume of 567,650 shares. PNC Financial Services Group, Inc. has a 1-year low of $82.17 and a 1-year high of $132.58. The stock has a market capitalization of $63.44 billion, a PE ratio of 16.82 and a beta of 0.93. The stock has a 50 day moving average price of $125.42 and a 200 day moving average price of $122.60.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 EPS. Analysts anticipate that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Monday, July 17th will be given a $0.75 dividend. The ex-dividend date is Thursday, July 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.30%. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is currently 38.12%.

PNC Financial Services Group, Inc. (The) announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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A number of research analysts have recently commented on PNC shares. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, April 17th. Rafferty Capital Markets downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a research report on Monday, April 17th. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Hilliard Lyons upgraded PNC Financial Services Group, Inc. (The) from an “underperform” rating to a “hold” rating and lowered their target price for the company from $127.00 to $123.00 in a research report on Monday, April 17th. Finally, Instinet increased their target price on PNC Financial Services Group, Inc. (The) from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $122.75.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the completion of the sale, the insider now directly owns 83,931 shares in the company, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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